Four Horsemen: The Survival Manual by Ross Ashcroft

By Ross Ashcroft

A deeper examine the problems raised via the acclaimed 4 Horsemen movie. because the worldwide economic system veers from quandary to disaster, humans have eventually had adequate. Billions are denied potent entry to an economic climate that has been hijacked by means of vested pursuits. the folks who prompted the monetary hindrance endure no loss, whereas the blameless majority see their dwelling criteria fall, or pay with their jobs. however it does not need to be like this. by means of equipping ourselves with a greater figuring out of the concern and its root reasons in a fatally wrong financial system, not just can we be higher ready for the demanding situations forward, yet we are going to additionally locate the inducement to paintings in the direction of genuine switch. The Survival guide issues the right way to a saner destiny. the necessity for swap hasn't ever been extra pressing, however the stipulations have by no means been extra beneficial. With wish and trust we will be able to construct a greater global, and create a civilization healthy for humans.

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But, if she had the excuse of not really understanding the consequences of her policies, her successors can see them all too clearly. It’s disappointing that those who follow in her footsteps lack the courage and vision to steer us onto a different course. Blueprint or Scramble? Few have been able fully to shield themselves from the conse-quences of the financial crisis that began in 2008. Prices of things that make up a large proportion of poor people’s living costs are rising across the board.

A culture of consumption creates an economy geared to producing ‘lifestyle goods’ and luxuries for those whose basic needs have already been met, while leaving millions in poverty. Not only are resources wrongly directed but, because the system is sustained only through running up massive debts, the capacity of the economy to create genuine new wealth is also severely weakened. However cheap things get, people always want more than they can afford. The result is a race to the bottom. People expect ever-lower prices so producers have to cut their costs by cutting the wage bill, using inferior materials or employing fewer people.

One consequence of excluding land from economic models (and academic textbooks) is that, while revenues earned by labour and capital are subject to taxation, those earned by landowners are not. There is no doubt that classical theory needed updating to reflect changes that Smith and his contemporaries could not have foreseen. But, in virtually every aspect, the neo-classical school of thought got it wrong, and in most cases spectacularly so. Having dispensed with land, neo-classical economists also decided to change the entire procedural focus of economics.

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